Omg thank you so much!! We were taught the diagrams and the concept of corner solution but never were taught on how to actually solve the question with values. You're a life saver!!
Am I correct in assuming that if Px=Py then the consumer will be indifferent along all points on that particular indifference curve? Just trying to think about this mathematically with the Lagrange method instead of jumping straight into solving it with intuition. Thank you
Omg thank you so much!! We were taught the diagrams and the concept of corner solution but never were taught on how to actually solve the question with values. You're a life saver!!
This was the most simple explanation ever,
what my tutor talked about for 20 mins made no sense compared to this, thank you so much
my professor lost me in his rambling. Thanks for not over complicating simple arithmetic.
Thank you so much, I´ve been looking for this in many sources and I wasnt able to find it.
Oh God! Big Thanks to you!
You are a hero.
Thank you.
This is very helpful thank you.
You are welcome!
What will be the consumption bundle(max. utility) in the case: when MRSxy = Price ratio? eg: U= 50X+20Y subject to 50X+20Y=10000.
Both will be equal
So we can have any combination
Am I correct in assuming that if Px=Py then the consumer will be indifferent along all points on that particular indifference curve? Just trying to think about this mathematically with the Lagrange method instead of jumping straight into solving it with intuition. Thank you
How do I find the coefficient a and b? Thinking of a practical case..
This video has a few story problems about the intuition behind the coefficients:ruclips.net/video/4kSrHkUV4eI/видео.html
Thanks. You help me a lot
Sir can I get pdf of all the questions. Pls sir if there is then please share link
thanks~
I am student of Economics...